dtac fourth quarter & FY2013

11 February 2014

disclaimers

Certain forward looking statements may be made in the course of the presentation. These forward-looking statements generally can be identified by use of statements that include words or phrases such as dtac or its management “believes”, “expects”, “anticipates”, “intends”, “plans”, “foresees”, or other words or phrases of similar import. Similarly, statements that describe dtac’s objectives, plans or goals also are forward-looking statements.

All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. The forward-looking statements contained in the slides are not and should not be constructed as representations of the future performance of dtac and that such statements are an expression of the Company’s reviews based on its current view and certain assumptions including, but not limited to, prevailing economic and market conditions and currently available information.

dtac Investor Relations: www.dtac.co.th

E-mail: IR@dtac.co.th Tel: +662 202 8882

3

key highlights

dtac TriNet (3G 2.1GHz company) rapidly expanding; 12M subscribers by year end

dtac continues to drive “Internet for All”

In 2013, total revenue increased by 5.7% YoY driven by strong growth in service revenue (excl IC) and handset sales despite pressured by soft economy and rising market competition

Service revenue (excl IC) grew 10.4% YoY supported by larger subscriber base and continued strong demand for mobile data

EBITDA increased 12% YoY as a result of strong underlining business and regulatory saving but partly offset by higher S&M to maintain our market position

EBITDA margin improved by 1.8pp to 31.7%

Total CAPEX of THB 14.4 billion mainly to expand 3G 2.1GHz network coverage

highlights operational

273 276 274 262 264 260 271 265

223 227 227 217 220 217 220 220

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

MOU incl IC MOU excl IC

blended MOU (mins/sub/month)

subscribers growth in line with expectations

5

blended ARPU (THB/sub/month)

258

1,750

290 623

239 471

2,302

1,624

24.6 26.3 26.6 27.2 27.5 27.9

26.3 27.9

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

Net add (in thousand) Accum subs (in million)

net adds & total subscribers

Total subscribers grew 6.2% YoY, adding 1.6M new subscribers in 2013

Blended MOU (excl IC) remained flat YoY with a downward trend in 2013 mainly driven by data usage substitution

Blended ARPU (excl IC) slightly lower YoY but maintained QoQ supported by growing data revenue offsetting by voice revenue

incl IC -5.5% excl IC -4.4% incl IC -1.4%

excl IC -1.4%

Note: • Starting from 1 July 2013, Interconnection (IC) rate had been reduced bilaterally with other telecom providers from approx. THB 1.00

to THB 0.45 per minute.

incl IC -2.1% excl IC flat

260 263 258 259 231 232

262 245

211 214 210 214 209 210 212 211

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

ARPU incl IC ARPU excl IC

incl IC -11.8% excl IC -1.5% incl IC +0.4%

excl IC +0.9%

incl IC -6.5% excl IC -0.4%

healthy mobile Internet developments continued

6

data subscribers (million)

3G subscribers (million)

smartphone penetration

4.9 5.7 6.1 7.1 8.0 9.1 5.7 9.1

19.9% 21.7% 23.1% 26.0%

29.1% 32.7%

21.7%

32.7%

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

Smartphone (in million) % smartphone penetration

7.2 9.1 9.1 9.4 10.5 10.6 9.1 10.6

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

1.6 2.3 2.9 3.4 4.2 5.1 2.3 5.1

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

+16.9% +0.9%

Smartphone users grew 60% YoY, reaching 32.7% penetration, mainly contributed by the success of dtac TriNet phones and iPhone 5s launches in 2013

Data subscribers exceeded 10M, growing healthily 16.9% YoY

3G subscribers (850MHz and 2.1GHz) increased 126% YoY, reaching 5M by end of 2013

+16.9%

+125.8% +23.8%

+125.8%

highlights financial

service revenues excl IC grew strongly 10.4% YoY

total revenues (THB billion)

15.8 16.7 17.3 17.7 17.4 17.7 63.5 70.1 3.6 3.7 3.6 3.5 1.7 1.7

14.7 10.6

1.8 3.7 2.9 3.3 2.3 5.4

11.3 14.0

21.2 24.2 23.9 24.5 21.4 24.8

89.5 94.6

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

service revenues (excl IC) IC revenue handset & others

service revenues breakdown

8

TR: +2.5% SR ex IC: +5.8% HS & Others: +45.1%

TR: +16.0%, SR ex IC: +1.6% HS & Others: +140.3%

TR = total revenues SR ex IC = service revenues excl IC HS & Others = handset and others

14% 14% 14% 14% 15% 14% 14% 14%

41% 39% 37% 37% 39% 37% 42% 38%

20% 22% 24% 25% 31% 32% 19% 28%

3% 3% 3% 2% 2% 2%

3% 3%

19% 18% 17% 17% 9% 9% 19% 13%

4% 4% 4% 4% 4% 6% 3% 5%

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

postpaid airtime prepaid airtime

VAS IR

IC Others

Note: • Starting from 1 July 2013, Interconnection (IC) rate had been reduced bilaterally with other telecom providers from approx. THB 1.00

to THB 0.45 per minute.

TR: +5.7%, SR ex IC: +10.4% HS & Others: +23.9%

mobile Internet growth continued at 79% YoY

VAS revenue (THB billion)

3.8 4.4 5.0 5.4 5.9 6.3 15.2 22.6

24.3% 26.5%

28.8% 30.3%

34.1% 35.6%

23.9%

32.2%

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

VAS revenue % to service revenues (excl IC)

VAS breakdown

62% 66% 69% 72% 75% 76% 61%

73%

18% 16% 14% 11% 9% 8%

19%

11%

20% 19% 17% 16% 16% 16% 20% 16%

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

mobile Internet messaging others

9

+41.8% +6.0%

+48.8%

record-high sales in Q413 while margin remained low

handset revenue (THB billion)

10

1.6 3.5 2.8 3.2 2.1 5.2 10.5 13.3

1.9% 1.8% 1.4% 1.7%

5.8%

2.1% 3.2% 2.5%

2.4%

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

handset revenues

% handset margin

% handset margin ex. special items

Record-high handset sales in Q413 mainly contributed by iPhone 5s and dtac TriNet phones (2nd Gen) launched together with successful AOU (Age of Used) marketing campaign

Handset sales grew significantly by 27% in 2013 with thin margin of 2.5%

+47.6% +143.8%

+26.5%

joey turbo

cheetah turbo

lion

positive development on cost of services primarily driven by regulatory cost saving

cost of services (THB billion) excluding IC and D&A

7.2 7.8 7.4 7.8 7.5 7.2 28.6 29.9

45.4% 46.4% 42.8% 44.1% 43.1% 40.8%

45.0% 42.7%

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

cost of services % to service revenues (excl IC)

% to service revenues (excl IC)

11

6.2% 6.7% 5.5% 5.6% 6.0%

6.7%

6.1% 5.9%

6.1% 7.5%

6.1% 6.3% 5.0%

5.5%

6.4% 5.7%

33.0% 32.3% 31.2% 32.1% 32.1%

28.5%

32.5% 31.0%

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

network opex other cost regulatory cost

Note: D&A = Depreciation and Amortization

-7.1% -3.8%

+4.7%

higher S&M to drive regulatory saving and to maintain our market position

SG&A (THB billion) excluding D&A

2.3 2.8 3.3 2.6 3.0 3.5 10.0 12.4

14.6%

16.9% 18.8%

14.4%

17.5%

20.0%

15.8% 17.7%

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

SG&A % to service revenues (excl IC)

% to service revenues (excl IC)

12

10.8% 11.8%

14.3%

8.8%

10.0% 11.0% 11.1% 11.0%

10.5%

10.0%

3.8%

5.1% 4.5%

5.7%

7.5%

9.0%

4.7%

6.7%

1.1% 1.6%

3.4%

2.0% 1.8%

3.2%

1.2%

2.6%

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

Admin excl A&D as % to service revenues (excl IC)

Admin excl A&D as % to service revenues (excl IC) ex. 1-time

Selling & Marketing as % to service revenues (excl IC)

Bad debt as % to postpaid revenues

Note: D&A = Depreciation and Amortization

+25.4% +16.2%

+23.5%

one-time items in Q4 2013

13

Separate financial statements implications to P/L in Q413

Impairment loss

Provision of loss from dtac’s assets impairment as a result of aggressive customer porting to DTN

This is a non-cash loss and has no impact to consolidated financial statements

Loss from assets impairment

-18,627 MB

Total impact to separate financial statements -18,627 MB

Consolidated financial statements implications to P/L in Q413

IC TOT Partially reversed accrual of IC with TOT following the change in IC rate by applying NBTC new standard rate at THB 0.45 per minute

IC Cost

780 MB

DPC Provision of revenue sharing on DPC roaming charge to CAT during Sep98 – Sep02

Provision for interest expense based on the most conservative approach

Regulatory Cost

-478 MB

Financial Cost

-884 MB

Deferred tax Write-down of unutilized deferred tax assets as it is not probable that future taxable profit will be available against the benefits

Income tax expenses

-403 MB

Total impact to consolidated financial statements -984 MB

EBITDA excl Handset (THB billion)

positive EBITDA and EBITDA margin developments

EBITDA (THB billion)

6.7 6.8 7.5 7.5 7.2 8.0 26.8 30.0

31.4% 27.7%

31.2% 30.4% 33.4% 32.1% 29.9% 31.7%

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

EBITDA EBITDA margin

14

6.6 6.7 7.4 7.4 7.0 7.8 26.5 29.7

33.8% 32.2% 35.1% 34.6% 36.5%

40.1%

33.4% 36.5%

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

EBITDA excl HS EBITDA margin excl HS

+17.7% +11.2%

+12.0% +17.2% +11.6%

+12.2%

15

net profit (THB billion)

2.9 2.6 3.0 2.9 2.7 1.9 11.3 10.6

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

net profit

softer net profit temporarily affected by one-time items in Q413

Positive EBITDA development of 17.7% YoY in Q413 was offset by:

Foreign exchange loss due to exchange rate fluctuations

Conservative provision of interest payment for DPC case

Write-down of unutilized deferred tax

By excluding the net impact of all one-time items in Q413, the net profit would increase by 10.5% YoY

-27.8% -32.4%

-6.3%

solid financial position with low leverage

THB 5.5 billion cash on hand at the end of 2013

No annual dividend for 2013

Expect to resume interim Dividend from Q114 onwards

Dividend policy remains at minimum 80% of company’s net profit with an aim to pay quarterly

16

L/T debt repayment (THB billion)

financial ratios

Q312 Q412 Q113 Q213 Q313 Q413 FY2012 FY2013

Net debt to Equity 0.2 0.8 0.5 0.4 0.3 0.8 0.8 0.8

Net debt to EBITDA 0.2 1.0 0.6 0.5 0.4 0.9 1.0 0.9

Interest coverage ratio 35.9 26.4 24.7 24.2 25.1 28.1 26.4 28.1

FFO to total debt (%) 205.5 124.7 95.0 111.1 98.7 78.0 124.7 78.0

2.5 4.5 6.3 4.5 3.1 1.7

17.5 15.6 4.1 2.2 1.2 2.9 4.1 6.2

9.3 14.4

Q312 Q412 Q113 Q213 Q313 Q413 2012 2013

operating CF (EBITDA - CAPEX) CAPEX

operating CF (THB billion)

31.5

2.0 2.1

2.0 2.1 0.0

23.2

Q413 Q114 Q214 Q314 Q414 Q115 Q215-2017

interest bearing debt repayment

EBITDA margin

revenue growth

35-36% EBITDA margin

3–5% YoY total revenue growth

CAPEX minimum THB 13 billion

Outlook 2014